It seems that a Greek default is finally being considered as possible. Amazing that it has taken this long. I went and looked at what happened when Bear Stearns went under. About three days after the market found a bottom (using breadth indicators) and rallied from Mar to late May. I'm not sure if that is where we are or if we are at a Lehman point. I'm thinking the former, but that is just a guess. It seems this has become unraveled too fast to not have some settling before shit hits the fan again.
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